Data Review: The Big Moves of 'Crypto Stock Master' Chuan Mu

Original｜Odaily Planet Daily（@OdailyChina）

Author｜Wenser（@wenser 2010 ）

As we enter 2025, only two types of KOLs remain active in the crypto market: those who profit or incur losses through contract trading in volatile markets, and those who flexibly adjust their strategies in a market full of trends and countless directions, jumping on whatever is hot. Crypto KOL Chuan Mu (@xiaomucrypto), after proving his contract trading skills through challenges like the 500U real trading challenge, has recently attracted significant market attention through a series of crypto stock trades.

Despite some skepticism about him 'using fans as exit liquidity,' his public crypto stock trades show that his entry and exit points still hold some reference value. Odaily Planet Daily will briefly analyze three investment targets Chuan Mu has mentioned and traded in recent months—Circle (CRCL), Guotai Junan International, and SBET—for readers' reference.

Review of Chuan Mu's SBET Operations: From Refusal to Entry to Profitable Exit

On May 27, Sharplink Gaming announced a financing round to establish an ETH reserve, causing SBET to surge over $100. Chuan Mu, as a keen trader, immediately noticed this stock and embarked on a roller-coaster trading journey.

Chuan Mu initially expressed skepticism about SBET, fearing a market cap manipulation through stock issuance. However, he soon changed his mind and dived into the 'ETH version of Strategy' and other crypto stock markets.

On June 11, as Sharplink completed a $425 million financing round and began purchasing ETH, SBET's price stabilized. Chuan Mu bought 10,000 SBET shares at an average price of $39.5. He also bought 20,000 shares of dfdv at $27.3 and 20,000 shares of qubt at $19.1, while selling 15,000 CRCL shares at $113.

Buying records released by Chuan Mu

Just 1.5 hours later, he sold part of his position: 9,000 SBET shares at $44.5, making a single trade profit of $45,540.

Chuan Mu later criticized the SBET project team after a 60% drop in after-hours trading, calling them 'scum' for misleading investors with ETH-related strategies.

On June 17, Chuan Mu commented on a blogger's post, suggesting SBET might be involved with Primitive Capital founder Dovey (Wan Hui), and decided to steer clear.

However, as Sharplink continued to buy ETH, becoming the listed company with the largest ETH holdings, the market reacted positively. By July 9, SBET's price rebounded to $15.35, with a 24-hour increase of over 21%. Chuan Mu revised his stance, seeing potential in SBET's financing advantages through ETH staking, and re-entered the market.

By July 11, Chuan Mu held approximately 154,000 SBET shares with a floating profit of about $232,000. That evening, he sold all his SBET shares at an average price of $21.5, making a single trade profit of approximately $465,000.

Chuan Mu's second SBET liquidation screenshot

However, the rising prices confirmed Chuan Mu's fear of missing out, leading him to buy back 100,000 SBET shares at $23.8 on July 14. By July 15, this trade had a floating profit of about $100,000, and he eventually sold all shares at $25.75, making a profit of approximately $195,000.

Yet, regret struck again as SBET's price surged to nearly $44 pre-market on July 17. Chuan Mu expressed excitement but likely began shifting his position from SBET to BTCS.

Following Sharplink Gaming's announcement of a planned $5 billion financing to increase ETH holdings, SBET remained a market focus. Chuan Mu's latest analysis on July 20 suggested a conservative estimate for SBET's price based on ETH holdings and potential market reactions.

Based on public information, Chuan Mu's profits from SBET alone are conservatively estimated at $800,000 to $1 million.

Conclusion: If You Lack Insight, Learn to Follow, and Know When to Run

Overall, Chuan Mu's timing in buying and selling crypto stocks is relatively accurate, serving as a reference for those with stock trading experience. However, followers should be wary of becoming 'exit liquidity' and the risks of following trends without independent analysis.

Investing is often a game of speed and timing.